Verition Fund Management LLC Increases Stock Holdings in Maplebear Inc. (NASDAQ:CART)

Verition Fund Management LLC grew its holdings in shares of Maplebear Inc. (NASDAQ:CART) by 54.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 630,809 shares of the company’s stock after purchasing an additional 221,091 shares during the quarter. Verition Fund Management LLC owned approximately 0.24% of Maplebear worth $25,699,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Vinva Investment Management Ltd bought a new stake in Maplebear during the third quarter valued at approximately $212,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Maplebear by 95.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,258 shares of the company’s stock worth $1,233,000 after acquiring an additional 14,750 shares during the last quarter. FORA Capital LLC bought a new stake in shares of Maplebear during the 3rd quarter valued at $5,231,000. Beaconlight Capital LLC increased its stake in shares of Maplebear by 54.7% in the 3rd quarter. Beaconlight Capital LLC now owns 213,797 shares of the company’s stock worth $8,710,000 after purchasing an additional 75,598 shares in the last quarter. Finally, Blueshift Asset Management LLC bought a new position in Maplebear in the 3rd quarter worth $788,000. Institutional investors own 63.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CART. BMO Capital Markets boosted their price target on Maplebear from $39.00 to $48.00 and gave the company a “market perform” rating in a report on Wednesday, November 13th. Citigroup boosted their price objective on Maplebear from $44.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Jefferies Financial Group initiated coverage on shares of Maplebear in a research note on Wednesday, October 16th. They set a “hold” rating and a $43.00 target price on the stock. Raymond James began coverage on shares of Maplebear in a research report on Tuesday, September 24th. They issued a “market perform” rating for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of Maplebear in a research report on Wednesday, November 13th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.29.

Maplebear Stock Down 0.2 %

CART stock opened at $43.44 on Friday. The firm’s fifty day simple moving average is $43.17 and its two-hundred day simple moving average is $37.03. The stock has a market capitalization of $11.16 billion, a price-to-earnings ratio of 29.15, a price-to-earnings-growth ratio of 1.12 and a beta of 1.12. Maplebear Inc. has a twelve month low of $22.13 and a twelve month high of $50.01.

Maplebear (NASDAQ:CART) last issued its quarterly earnings results on Tuesday, November 12th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.20. Maplebear had a return on equity of 13.78% and a net margin of 13.37%. The firm had revenue of $852.00 million during the quarter, compared to analyst estimates of $844.03 million. During the same period last year, the company earned ($20.86) EPS. Maplebear’s quarterly revenue was up 11.5% compared to the same quarter last year. As a group, equities research analysts expect that Maplebear Inc. will post 1.4 EPS for the current year.

Insider Buying and Selling at Maplebear

In related news, General Counsel Morgan Fong sold 8,345 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $40.00, for a total value of $333,800.00. Following the completion of the transaction, the general counsel now owns 330,886 shares of the company’s stock, valued at $13,235,440. The trade was a 2.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Fidji Simo sold 20,750 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $44.39, for a total value of $921,092.50. Following the completion of the transaction, the chief executive officer now directly owns 1,803,278 shares of the company’s stock, valued at approximately $80,047,510.42. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,954 shares of company stock valued at $4,890,405 in the last ninety days. Corporate insiders own 36.00% of the company’s stock.

About Maplebear

Maplebear Inc, doing business as Instacart, engages in the provision of online grocery shopping services to households in North America. It sells and delivers grocery products, as well as pickup services through a mobile application and website. It also operates virtual convenience stores; and provides software-as-a-service solutions to retailers.